Empowered Funds LLC Sells 9,662 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Empowered Funds LLC cut its position in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,747 shares of the bank's stock after selling 9,662 shares during the quarter. Empowered Funds LLC owned 0.23% of Sandy Spring Bancorp worth $3,464,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SASR. Capital Performance Advisors LLP acquired a new stake in Sandy Spring Bancorp during the third quarter valued at approximately $29,000. SG Americas Securities LLC acquired a new stake in Sandy Spring Bancorp during the third quarter valued at approximately $170,000. Stifel Financial Corp acquired a new stake in Sandy Spring Bancorp during the third quarter valued at approximately $217,000. CWM LLC boosted its holdings in Sandy Spring Bancorp by 27.4% during the third quarter. CWM LLC now owns 7,086 shares of the bank's stock valued at $222,000 after purchasing an additional 1,525 shares in the last quarter. Finally, Associated Banc Corp acquired a new stake in Sandy Spring Bancorp during the third quarter valued at approximately $249,000. 66.90% of the stock is owned by institutional investors and hedge funds.

Sandy Spring Bancorp Price Performance

Shares of NASDAQ:SASR traded down $0.12 during trading on Friday, reaching $33.65. The stock had a trading volume of 158,704 shares, compared to its average volume of 230,093. Sandy Spring Bancorp, Inc. has a 52 week low of $19.52 and a 52 week high of $39.55. The business's 50-day moving average price is $33.99 and its 200 day moving average price is $33.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $1.52 billion, a PE ratio of 74.78 and a beta of 0.97.

Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last posted its earnings results on Tuesday, January 28th. The bank reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.01). Sandy Spring Bancorp had a net margin of 2.65% and a return on equity of 5.31%. As a group, equities analysts predict that Sandy Spring Bancorp, Inc. will post 2.51 earnings per share for the current year.

Sandy Spring Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Wednesday, February 12th. Sandy Spring Bancorp's dividend payout ratio (DPR) is currently 302.23%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Sandy Spring Bancorp in a report on Wednesday. They set a "sell" rating on the stock. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $28.25.

Sandy Spring Bancorp Company Profile

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses in the United States. It offers financial products and services, including various loan and deposit products.